Intending to build up its inventory of popular sites that can support online advertising, IAC has bought a 51 percent stake in Connected Ventures, parent of comedy website CollegeHumor.com, reports Reuters. Financial terms were not disclosed. CollegeHumor founders Josh Abramson and Ricky Van Veen will continue to run the company.
CollegeHumor draws some 6 million unique visitors per month and offers Maxim-like humor - much of it user-generated content - targeted at college-age visitors, writes AdWeek. The site is the first property in IAC's programming unit, which the company formed in January, placing it under former TV exec Michael Jackson.
The site has moved risque content to an "R-rated" area for users 18 and older, and its major sponsors are not present there. The site relies on ad networks but has run campaigns for Ford, P&G and entertainment companies.